Significant benefits from major trade/investment drive in Malaysia

22/9/94

A major trade and investment drive in Malaysia has already produced significant benefits for Western Australian business, according to Commerce and Trade Minister Hendy Cowan.

Mr Cowan joined representatives of 60 businesses for Western Australia Week in Malaysia earlier this month.  A string of events and activities highlighted the State's food, fashion, building and construction, information technology and environmental management industries.

"While it generally takes some time for the benefits of such missions to be fully realised, participating firms already have reported sales, contracts and joint venture arrangements totalling several million dollars," Mr Cowan said.

"Many have also appointed agents and most say they made valuable contacts and gained a better understanding of the tremendous opportunities in Malaysia.

"Western Australia Week received daily exposure in the press and coverage from Malaysian television.

"Meetings during the week also helped strengthen relationships between government and business in Malaysia and WA."

Mr Cowan said businesses generally would benefit from greater awareness of, and goodwill towards, WA in Malaysia.

He said highlights of the week included:

·       180 one-to-one meetings between relevant Malaysian companies and the 27 environmental management and information technology firms participating.  Many have now begun discussing possible joint ventures and other arrangements potentially worth millions of dollars.

·       Sales worth more than $4 million negotiated by 13 WA companies at MALBEX'94, Malaysia's premium building and construction exhibition.

·       Mr Cowan's attendance as guest-of-honour at the Malaysia Australia Business Council dinner which featured WA food, wine, fashion and music and which attracted 250 business leaders and guests.

·       A fashion parade featuring the work of four WA designers, received an enthusiastic response from 200 buyers and members of Malaysia's 'fashionable' set.

·       Attendance by 150 Malaysian food industry representatives at a display by 20 WA food and drink exporters.

·       The official opening of WA's upgraded trade office in Kuala Lumpur.  The office will promote trade and investment linkages and provide market information to Western Australian business.

·       Signing of a Memorandum of Understanding between the WA Government and the Johor State Economic Development Corporation to promote co-operation in science, technology, education and management training.

Media contact:  Peter Jackson 222 9595